Upstart Holdings, Inc. (NASDAQ:UPST) Receives $61.80 Consensus Price Target from Analysts

Shares of Upstart Holdings, Inc. (NASDAQ:UPST) have been given an average recommendation of “Hold” by the eleven analysts that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $61.80.

UPST has been the topic of a number of research reports. Piper Sandler upgraded shares of Upstart from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $31.00 to $85.00 in a report on Friday, November 8th. JPMorgan Chase & Co. lowered shares of Upstart from a “neutral” rating to an “underweight” rating and increased their target price for the stock from $45.00 to $57.00 in a report on Monday, December 2nd. Citigroup upgraded shares of Upstart from a “neutral” rating to a “buy” rating and raised their price objective for the company from $56.00 to $87.00 in a report on Friday, November 8th. BTIG Research raised shares of Upstart from a “sell” rating to a “neutral” rating in a research report on Monday, November 11th. Finally, Redburn Atlantic raised shares of Upstart from a “neutral” rating to a “buy” rating and increased their target price for the company from $37.00 to $95.00 in a research report on Tuesday, December 3rd.

Upstart Price Performance

Upstart stock opened at $66.07 on Friday. The firm has a 50 day simple moving average of $69.17 and a 200-day simple moving average of $51.80. Upstart has a 1-year low of $20.60 and a 1-year high of $88.95. The stock has a market cap of $6.03 billion, a price-to-earnings ratio of -34.23 and a beta of 2.26.

Upstart (NASDAQ:UPST) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.31). Upstart had a negative return on equity of 32.57% and a negative net margin of 30.15%. The company had revenue of $162.14 million during the quarter, compared to analyst estimates of $149.94 million. During the same quarter in the prior year, the company posted ($0.48) earnings per share. Equities analysts expect that Upstart will post -2.18 earnings per share for the current fiscal year.

Insider Transactions at Upstart

In other news, CEO Dave Girouard sold 41,667 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $62.60, for a total value of $2,608,354.20. Following the completion of the sale, the chief executive officer now owns 57,138 shares in the company, valued at approximately $3,576,838.80. This trade represents a 42.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sanjay Datta sold 1,500 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $79.54, for a total transaction of $119,310.00. Following the completion of the sale, the chief financial officer now owns 331,093 shares of the company’s stock, valued at $26,335,137.22. This trade represents a 0.45 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 391,035 shares of company stock worth $26,890,777. Company insiders own 18.06% of the company’s stock.

Hedge Funds Weigh In On Upstart

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC acquired a new position in Upstart during the third quarter worth about $334,000. Tyler Stone Wealth Management raised its position in Upstart by 94.1% during the third quarter. Tyler Stone Wealth Management now owns 55,534 shares of the company’s stock worth $2,222,000 after acquiring an additional 26,917 shares during the last quarter. Intech Investment Management LLC acquired a new position in Upstart during the third quarter worth about $939,000. Quadrature Capital Ltd acquired a new position in Upstart during the third quarter worth about $676,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Upstart by 63.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 725,582 shares of the company’s stock worth $29,031,000 after buying an additional 282,481 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

About Upstart

Upstart Holdings, Inc, together with its subsidiaries, operates a cloud-based artificial intelligence (AI) lending platform in the United States. Its platform includes personal loans, automotive retail and refinance loans, home equity lines of credit, and small dollar loans that connects consumer demand for loans to its to bank and credit unions.